THE B TEAM AFRICA’S AGENDA ANNOUNCED AT AFRICA CEO FORUM 2018

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THE B TEAM AFRICA’S AGENDA ANNOUNCED AT AFRICA CEO FORUM 2018

Special Correspondent - March 27, 2018

“As forward-thinking business leaders, we are ready to take a positive stand not just for our communities and our nations, but for the continent....

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KCB Group PLC delivered strong financial results in the first half of 2025 driven by growth in earning assets, amid a difficult operating environment. The Group sustained its focus on deepening and leveraging regional scale to catalyse ongoing economic transformation and deliver value to shareholders, customers and other stakeholders. As a result, the Board of Directors has recommended an interim dividend of KShs.2.00 per share for the 2025 period and a further special dividend of KShs 2.00 per share (in relation to the sale of National Bank of Kenya). This means shareholders will get a payout of KShs.13 billion, the largest interim payment and first ever special dividend in the Bank’s history. Profit after tax grew 8% from KShs.29.9 billion to KShs.32.3 billion as all business franchises posted higher earnings, riding on customer-focused initiatives. Commentary from Group Chief Executive Officer Paul Russo “The business across markets remains resilient despite the tough operating environment in key markets like Kenya. Despite this, we have placed our customers at the fore, to ensure we meet their needs in a timely manner” said Paul Russo, the Group Chief Executive Officer during the release of the results on Wednesday. Subsidiaries outside KCB Bank Kenya continued to turn in stronger performance, with their profit before tax making up 33.4% of the overall Group earnings, and 31.4% of the balance sheet. PBT contribution from non-banking entities—KCB Investment Bank, KCB Asset Management and KCB Bancassurance Intermediary Limited was up to 2.1% from 1.8% a similar period last year. Total assets remained stable at KShs1.97 trillion, despite the sale of NBK in the second quarter of the year, demonstrating the Group’s capacity and capability to support its customers across the seven countries where KCB operates in.

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Kenya’s cloud and artificial intelligence boom may be entering its most consequential phase yet, as new data suggests local consultancies, AI startups and systems integrators stand to earn dramatically more from Amazon Web Services (AWS) than previously understood. A study by US-based research firm Omdia reveals that AWS partners worldwide can now generate “up to a $7.13 (Sh900) multiplier for every $1 (Sh130) of AWS sold,” a figure with enormous implications for East Africa’s technology ecosystem. The report, titled "Partner Ecosystem Multiplier: The AWS Opportunity 2025," was released on the sidelines of the AWS: Re-Invent event in Las Vegas, Nevada, which kicked off on December 1 and ends on December 5. It reached this conclusion after Omdia conducted in-depth interviews with 35 AWS partners across various geographies and partner types. The report’s central argument is blunt: in a region where businesses are hungry for automation, resilient infrastructure, and AI-powered customer engagement, the biggest revenue doesn’t come from selling cloud technology itself. Instead, it comes from the advisory, design, build, adoption, and managed services wrapped around it, the same areas where Kenyan firms have sought to differentiate themselves. “In the new era of AI, Omdia has forecasted a services opportunity tied to generative and agentic AI of $267 billion by 2030,” the research notes, positioning partners as the engines of this expansion. With Kenya’s financial institutions, telcos, and public agencies accelerating cloud migrations, the findings sharpen the conversation about who will capture the next decade of revenue. Kenyan companies already recognize the shift. For years, Kenya’s cloud market has revolved around foundational migrations: moving banks off aging data centres, helping enterprises modernize digital infrastructure, or building customer-facing platforms with elasticity and scale. But companies across Nairobi’s tech districts, from Westlands to Upper Hill to Ngong Road, are now repositioning their services for an AI-first world. The Omdia numbers help make the business case. The report states bluntly that 82 per cent of AWS partners are now delivering some form of AI as part of their transformation delivery, a seismic shift that mirrors Kenya’s adoption pattern: AI chatbots in banking, machine learning in fraud detection, recommender engines in e-commerce, and predictive analytics in agriculture and logistics. “Amazon Web Services (AWS) continues to be the market-leading provider of public cloud infrastructure in terms of market share. For customers to unlock the full opportunities of AI in their public cloud environments, they lean on a wide variety of services and expertise from their technology providers, specifically the partners within the AWS Partner Network.”

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Bolttech said the acquisition will allow it to integrate mTek’s technology into its global embedded insurance ecosystem. Stephan Tan, Chief Executive Officer for EMEA at bolttech, said, “This represents an exciting step forward for bolttech as we expand our footprint in Africa. mTek’s innovative platform and talented team share our vision of using technology to make protection more accessible.” “Together, we can accelerate digital transformation in insurance and extend the reach of embedded protection across the region.” mTek’s leadership will remain in place during the transition, with CEO Bente Krogmann continuing to oversee East African operations. Krogmann said the deal sets up the company for wider regional expansion. “Joining the bolttech family marks an exciting next chapter for mTek. Our technology, local insight, and commitment to inclusive insurance have transformed how customers access protection in Kenya, and this partnership allows us to scale that impact even further – bringing more innovative and relevant insurance solutions to customers at scale.” The company is expected to rebrand following the acquisition, as the firms work on integrating systems, staff, and partnerships.

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THE B TEAM AFRICA’S AGENDA ANNOUNCED AT AFRICA CEO FORUM 2018

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